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    Unions pile pressure on Reeves to avoid cuts and impose wealth taxes
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    Unions pile pressure on Reeves to avoid cuts and impose wealth taxes

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    1. Kixsian on

      absolutely. Med-High earners are not the wealthy and already get taxed to the hilt. As much as im a labour supporter they dont have the spine for it and we keep squeezing the middle class down

    2. arabidopsis on

      Reduce pip for mental health while boosting NHS mental health by £2bn

      That is a really good trade while also boosting employment and health of the UK while reducing a ridiculously high but if the welfare bill.

    3. Noble_Titus on

      Hope that they manage to push some more anti-disparity measures as a result of this. Governance is difficult and the boat has been rocking for far too long, so I understand why they might not be able to get better living standards right away and this could be a really good show of solidarity with the British worker. 

      Hope they show solidarity in their media responses to this because the Tories did not.

    4. Sea-Caterpillar-255 on

      After the debacle with farmers being asked to pay just half the rate everyone else pays or the wfp or the “planning bill” recently, does anyone actually think the government could introduce a wealth tax that doesn’t collapse before anyone has to pay?

    5. Minimum-Geologist-58 on

      I’m all for wealth taxes and think they could be a very good idea *if* they were part of wider tax reform. Why not abolish stamp duty for example? It’s a ridiculous tax that penalises downsizing, having the temerity to use taxed income to buy a house, especially in London, all kinds of perfectly normal things.

      Of course the kind of people who shout about wealth taxes are usually just “I want public services but I don’t want to pay for them. Tax everyone else to shit but me”, rather than having any interest in a sensible and lucrative tax system.

    6. Overall-Lynx917 on

      Problem with a “Wealth Tax” is that for many ordinary people it means the Government is repeatedly taxing the same money.

      I work and earn my wages upon which I am taxed, I save money for later in life and I am taxed on any interest earned now the Government wants to tax jw on my savings.

      I buy a house with what’s left after my income has been taxed, okay so the value of the house increases but I don’t have that money, I can’t spend it. There will be pensioners in London in houses worth hundreds of thousands of pounds on a basic pension. How do they pay a Wealth Tax? Does the Government just tax them when they die via putative IHT? Why shouldn’t I leave my meagre assets to my children? I’ve already been taxed on it.

      There are pros and cons to any tax regime

    7. RelevantPoetry9770 on

      Land tax, online sales tax, start taxing these large US tech companies that seem to operate with impunity, an AI tax, a robot tax.

    8. _L_R_S_ on

      There is no “weathly” now in the UK. The meme of taxing the “super rich” is now a well trodden fools cul-de-sac. This isn’t wealth and health inequality of the early 20th century when Labour came to power.

      24% of people in deprived areas smoke, vs 7% in affluent areas.

      93% of adults own a mobile phone.

      3m households in poverty have a streaming service subscription.

      We’re not sending children up chimney’s anymore.

      Society’s expectations about what are basic human needs have changed as the UK was in boom. Now it is in bust, and those expectations haven’t changed.

      Yet society who can’t pay now wants money from those who are already paying a huge amount in tax.

      I don’t mind paying to support someone who is truly on the breadline of life. As long as they convince me they have literally done everything in their power to reduce the burden on me.

      I also expect the Government to do the same, and this is where Labour need to grow some minerals. As a life long socialist I’m not a blank cheque. Unless Labour sort out their moral compass for the good of the country, then they leave gap for Reform to walk in, as they will promise literally anything to get into power.

      Even offering free Netflix.

      Yet it is the deprived and vulnerable who will vote Reform, only to benefit the top 1% as we are now seeing in the States.

    9. It531z on

      Capital Gains Tax receipts have fallen by 10% since the rise in October. You cannot just increase taxes and assume the money will roll in. Wealth taxes have never worked anywhere they’ve been tried, and we’ve already got the beginnings of a capital flight problem.

      In any case how would the treasury actually assess someone’s wealth? The process would be incredibly complicated and long-winded, and the kind of people this tax would be targeting are highly mobile and have excellent accountants. The treasury won’t be seeing much of their wealth. The only wealth tax that would be good is a Land Value Tax

    10. Coolium-d00d on

      Unions want Labour to shoot themselves in the foot over bad tax policy because Gary’s economics grifted it into popular discourse.

      I hate the internet.